Hut 8 and IREN Surge on Multi Billion Dollar AI Data Center Deals

Hut 8 is making a major move into artificial intelligence. The company has officially commercialized a 1 gigawatt campus in Texas. This comes after the firm secured a second lease agreement valued at 9.8 billion dollars. The pivot toward AI infrastructure is becoming a central strategy for several large mining companies.

IREN is also seeing significant growth in this sector. The company recently signed new contracts worth 2.8 billion dollars to expand its data center footprint. Investors reacted positively to these developments, sending the share prices for both firms up by double digits during recent trading sessions.

These deals signal a shift in how mining firms generate revenue. By repurposing their high power capacity for AI workloads, these companies are moving beyond standard block rewards. Observers should watch how quickly these facilities come online and whether other miners follow this path to diversify their income streams.